Answered: The New York Times cost $0.15 in 1970…

The New York Times cost $0.15 in 1970 and $2.00 in 2011. The average wage in manufacturing was $3 per hour in 1970 and $15 in 2011. By what percentage did the price of a newspaper rise?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter21: Demand: Consumer Choic

Section: Chapter Questions

Problem 12E

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The New York Times cost $0.15 in 1970 and $2.00 in 2011. The average wage in manufacturing was $3 per hour in 1970 and $15 in 2011.
By what percentage did the price of a newspaper rise?

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